Mainz Biomed Executes Convertible Note Agreement

Mainz Biomed B.V. (MYNZ) has released an update.

Mainz Biomed N.V. has entered into a financial agreement with YA II PN, Ltd. involving a convertible promissory note, allowing the holder to convert the note into ordinary shares at a potentially discounted rate. On October 2, 2024, the company initiated a conversion of part of the note, agreeing to potentially lower the floor price to $0.20, which will result in the issuance of up to 2.4 million ordinary shares. This move signifies a strategic financial maneuver that could impact the company’s stock performance and shareholder value.

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